Richard Branson Launches Virgin Money Spot Peer-To-Peer Payment App
Richard Branson, the owner of Virgin Money, has made a big move for his company. The platform released an upgrade of Virgin money Spot, a peer-to-peer (P2P) payment application.
Virgin Money Spot partnered with Cape Town-based mobile software company, WiGroup in February. The payment application has recently adopted blockchain technology in its most recent update, called Spot 3.0.
The update is poised to utilize blockchain for various reasons – the most notable being security and speed. Inspiration for the new technology is founded on Project Khokha’s distributed ledger initiative. For those who are unaware, the aforementioned project is a South Africa Reserve Bank recognized for its innovative implementation of blockchain technology.